Results 3,901-3,920 of 10,120 for speaker:Jim O'Callaghan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: All that the constituent who brought this to my attention can do is to complain to the bank, which is AIB in this instance but it could be any other bank. Does the bank not see itself as having role and being a kind of gatekeeper in terms of customers' relationships with Visa, whose primary contractual relationship is with the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: Is AIB aware that there has been such an increase in debiting costs?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: Am I correct to say that a rebate was provided for certain merchants? People involved in farming and agriculture have received a rebate. Is Ms Downey aware of that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: Is Mr. Hayes aware of that issue of the increase in card processing costs for users of Visa debit cards?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: I would appreciate it if BPFI would consider the matter. It appears to be the case that customers who have looked for a rebate have been told that certain sectors of the Irish economy will have rebates considered. Good luck to them; I have no issue with that. However, other sectors are not being considered for a rebate. What is the reason for that dichotomy?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: I hope Mr. Crowley does not mind that I have been ignoring him.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: There has obviously been a transition with Ulster Bank and KBC. How has that gone?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: What is the reason for Permanent TSB's profitability? Are interest rates the driving force behind that profitability?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: I will conclude there. I want to say that there is another option available. The bank could look to have less profitability. I know that might not appeal to its shareholders, and the State is no longer a shareholder, but the bank could look to have less profitability. As a consequence of that we might find that mortgage holders, who are, we all recognise, under pressure, would not have to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Jim O'Callaghan: Mr. Crowley is very knowledgeable about parochial politics.

Local Government (Mayor of Limerick) Bill 2023: Second Stage (20 Sep 2023)

Jim O'Callaghan: Ireland has a very centralised political system, as the Leas-Cheann Comhairle well knows. When we look at it, a huge amount of political power in this country is vested in Dáil Éireann. Dáil Éireann makes the decision, through the election of a Taoiseach and a government, to transfer very many powers executively to the government and to Ministers. Then, when Ministers...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: I welcome the Governor and deputy governors. I will begin with the Governor on the issue of what is seen as an unprecedented pace of increase in interest rates by the governing council of the ECB. Mr. Makhlouf stated that this was to combat the “unprecedented inflationary shock which has impacted significantly on households’ weekly shop, their tank of fuel and their energy...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: It appears to be axiomatic that, if inflation is high or remains high, interest rates will increase irrespective of the impact that will have on households.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: Am I correct that, irrespective of the care and concern that the governing council may have, it is axiomatic that interest rates are going to increase if inflation does not decrease?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: I wish to raise a separate point.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: One of the methods that politicians have for trying to respond to the impact on household incomes of higher mortgage rates is mortgage interest relief. In advance of the forthcoming budget, the Central Bank and the Irish Fiscal Advisory Council, IFAC, have issued warnings to the Government about inflationary measures. What is the Governor's view of, or advice on, the introduction of targeted...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: The Governor is not set against it in principle. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: I will deal with that issue now. I have noticed in the past number of weeks that both the Central Bank and the IFAC have been more vocal in making comments in respect of the forthcoming budget. What are the bank's concerns? The Governor said that the Government should be hesitant about introducing measures that could add to the inflationary shock. What specifically is he concerned about?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Jim O'Callaghan: In his statement the Governor mentioned that in Ireland we have one of the strongest growth rates in the euro area. Sometimes we take that for granted. If one looks at other countries, particularly the UK, they are desperate to try to achieve some level of growth and would have huge ambition and desire to have our growth rates. Why does he think we have been successful in achieving these...